M&T Bank Co. (MTB) Expected to Announce Quarterly Sales of $1.50 Billion

Wall Street analysts forecast that M&T Bank Co. (NYSE:MTB) will report sales of $1.50 billion for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for M&T Bank’s earnings, with estimates ranging from $1.49 billion to $1.51 billion. M&T Bank reported sales of $1.43 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 4.9%. The company is expected to issue its next earnings results on Monday, April 15th.

According to Zacks, analysts expect that M&T Bank will report full year sales of $6.16 billion for the current fiscal year, with estimates ranging from $6.11 billion to $6.24 billion. For the next year, analysts expect that the business will report sales of $6.27 billion, with estimates ranging from $6.12 billion to $6.36 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow M&T Bank.

M&T Bank (NYSE:MTB) last issued its quarterly earnings data on Thursday, January 17th. The financial services provider reported $3.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.49 by $0.27. M&T Bank had a net margin of 29.72% and a return on equity of 14.24%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the prior year, the firm earned $2.66 earnings per share.

MTB has been the topic of several recent research reports. Barclays reiterated a “buy” rating and issued a $207.00 price target on shares of M&T Bank in a research report on Thursday, February 21st. Zacks Investment Research upgraded shares of M&T Bank from a “hold” rating to a “buy” rating and set a $183.00 price target on the stock in a research report on Friday, January 18th. Morgan Stanley decreased their price target on shares of M&T Bank from $175.00 to $173.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 8th. ValuEngine upgraded shares of M&T Bank from a “sell” rating to a “hold” rating in a research report on Thursday, January 17th. Finally, Wedbush set a $165.00 price target on shares of M&T Bank and gave the stock a “hold” rating in a research report on Friday, January 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $179.58.

MTB traded down $3.47 during trading on Thursday, hitting $160.32. The company’s stock had a trading volume of 880,353 shares, compared to its average volume of 918,997. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59. M&T Bank has a one year low of $133.78 and a one year high of $189.08. The company has a market capitalization of $22.68 billion, a PE ratio of 12.47, a PEG ratio of 0.89 and a beta of 1.07.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Monday, March 4th will be given a dividend of $1.00 per share. The ex-dividend date is Friday, March 1st. This represents a $4.00 annualized dividend and a dividend yield of 2.50%. M&T Bank’s payout ratio is 31.10%.

In other news, insider Sabeth Siddique sold 365 shares of the firm’s stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of $165.67, for a total transaction of $60,469.55. Following the sale, the insider now directly owns 1,464 shares in the company, valued at approximately $242,540.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael J. Todaro sold 667 shares of the firm’s stock in a transaction on Wednesday, January 30th. The shares were sold at an average price of $167.70, for a total transaction of $111,855.90. Following the sale, the insider now owns 1,798 shares in the company, valued at $301,524.60. The disclosure for this sale can be found here. Insiders have sold a total of 17,766 shares of company stock worth $2,977,668 over the last 90 days. Insiders own 0.54% of the company’s stock.

Large investors have recently modified their holdings of the business. UMB Bank N A MO grew its stake in shares of M&T Bank by 10.4% in the 4th quarter. UMB Bank N A MO now owns 2,041 shares of the financial services provider’s stock worth $292,000 after buying an additional 192 shares in the last quarter. Banco Santander S.A. purchased a new position in shares of M&T Bank in the 4th quarter worth $23,961,000. Mountain Pacific Investment Advisers Inc. ID lifted its holdings in shares of M&T Bank by 3.1% in the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 65,456 shares of the financial services provider’s stock worth $9,369,000 after acquiring an additional 1,973 shares during the last quarter. TD Asset Management Inc. lifted its holdings in shares of M&T Bank by 0.5% in the 4th quarter. TD Asset Management Inc. now owns 61,908 shares of the financial services provider’s stock worth $8,861,000 after acquiring an additional 312 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of M&T Bank by 3.0% in the 3rd quarter. Legal & General Group Plc now owns 692,928 shares of the financial services provider’s stock worth $114,030,000 after acquiring an additional 20,214 shares during the last quarter. 79.97% of the stock is owned by institutional investors and hedge funds.

M&T Bank Company Profile

M&T Bank Corporation operates as the holding company for Manufacturers and Traders Trust Company; and Wilmington Trust, National Association that provide banking services. The company's Business Banking segment offers deposits, business loans and leases, and credit cards; and cash management, payroll, and letters of credit services to small businesses and professionals.

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Earnings History and Estimates for M&T Bank (NYSE:MTB)

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